Ripple’s CEO Brad Garlinghouse became the dominant focal point before the press at the InterContinental Boston. He was met by Lee Simpson, Stifel Tech Analyst, who interviewed him further.
It’s overemphasized to say that Brad Garlinghouse has been on a Bitcoin trashing marathon. Brad, is a Bitcoin investor nevertheless he is the CEO of Ripple and has used the current bearish market to pull down the origin point of cryptocurrencies; Bitcoin.
Ripple’s CEO Brad Garlinghouse said that “Bitcoin is really controlled by China,” Garlinghouse also shared his opinion about BTC’s and XRP’s underlying technology, the blockchain, arguing that it “will not disrupt banks,” though “it will play an important role in the way our system works,” however “it’s a short-sighted view.”
Brad Garlinghouse, CEO of Ripple said:
“I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China. There are four miners in China that control over 50 percent of Bitcoin. How do we know that China won’t intervene? How many countries want to use a Chinese-controlled currency? It’s just not going to happen.”
Speaking about Ripple’s XRP, he described it as “the best digital asset for settlement.” Garlinghouse said that “Bitcoin today takes 45 minutes to settle a transaction,” whereas XRP takes four seconds to settle, he claimed. The comparison made between Bitcoin and Ripple has been undebatable considering there’s no one from Bitcoin’s side to debate.
Brad dictated a personal story to the crowd. He narrated that about two and a half years ago, one of the biggest banks in Australia stopped by his office, that is when an acquaintance told him that the smartest thing he has done is to not have ‘bit’ or ‘coin’ in his company’s name.
At the time of writing, Bitcoin is ranked at #1 on CoinMarketCap and Ripple positions at #3. The trading price of Bitcoin [BTC] is at $6476.19 and its market cap is at $110 billion while, Ripple [XRP] is traded at the price of $0.54 with the market cap of $21 billion. Both the coins, as of now are running red in the crypto-market.